Friday, February 24, 2017


FARM COMMODITY TREND ANALYSIS FEB/24/2017 FRIDAY

MARKETS: PRICE SUPPLY/DEMAND USING RELATIVE ACTIVITY/STRENGTH OF TRADING
TREND CHANNEL: PARALLEL LINES JOINING HIGHER LOWS+TOPS  LOWER HIGHS+BOTTOMS 
TARGETS: (PROJECTED) RESISTANCE/SUPPORT LEVELS  OBJECTIVES
 
TRADING: DIRECTION  STRENGTH  RELATIVE LOCATION TO TARGETS/CHANNEL 

CORN (MAY/17): 25 CENT DAILY LIMIT FREE WORLD STOCKS/UP OPEN INTEREST/DOWN  
TREND CHANNEL:MONTHLY UP/GRADUAL/NARROW  HIGHER LOWS  PREMIUMS FORWARD
TRADING: DAILY DOWN  MID LOWER CHANNEL  NOTE: NO ROLLING MAR/17 EXPIRY

TARGETS: UP  (363  (367  372)  377  381)  NET COMMITMENTS: HEDGERS MORE SHORT 

SOYS (MAY/17): 65 CENT LIMIT FREE WORLD STOCKS DOWN OPEN INTEREST/DOWN
TREND CHANNEL: MONTHLY UP/MODERATE/WIDE  YEARLY-HIGHER LOWS
TRADING: DAILY DOWN TESTED CHANNEL BOTTOM  NOTE: NO ROLLING MAR/17 EXPIRY
 
TARGETS: UP, 1005 (1022  1030  1038)   NET COMMITMENTS: HEDGERS MORE SHORT 

WHEAT (MAY/17): 35 CENT DAILY LIMIT FREE WORLD STOCKS/UP OPEN INTEREST/FLAT    
TREND CHANNEL: MONTHLY UP/GRADUAL/NARROW  HIGHER LOWS  PREMIUMS FORWARD
TRADING: DAILY DOWN TESTED/CLOSED BELOW CHANNEL TOP ABOVE 443              
TARGETS: UP, 429 (443  454)  462  471)  NET COMMITMENTS: HEDGERS LESS LONG 

DOLLAR CAD/USD: (MAR/17)  4.00 DAILY LIIMIT. OPEN INTEREST/FLAT
TREND CHANNEL: MONTHLY DOWN/GRADUAL WIDE RANGE
TRADING: DAILY UP INSIDE UPPER CHANNEL  (INSIDE 7669-7628)       
TARGETS: DOWN, (7717 (7669 7628) 7558) NET COMMITMENTS: HEDGERS MORE SHORT   

HEATING OIL ULSD: (APR/17)  25 CENT DAILY LIMIT,   OPEN INTEREST/DOWN
TREND CHANNEL: MONTHLY UP,/GRADUAL/WIDE  YEARLY HIGHER LOWS  PREMIUMS
TRADING: DAILY DOWN TESTED/CLOSED@SUPPORT MID CHANNEL/164)
 
TARGETS: (159  (164)  169)  176  NET COMMITMENTS: HEDGERS: LESS SHORT
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